Friday, February 03, 2017
Average hourly earnings spark a US dollar whipsaw despite strong jobs growth
The rise in the participation rate to 62.9% from 62.7% also led to a rise in the unemployment rate to 4.8% from 4.7% but to me that's not bad news at all.
Like I wrote before the report, the market was leaning long-USD and it was going to take something really special to keep it higher.
Whippy trading in the aftermath but USD generally around 25 pips lower.